平安香港高息2025年報

Stock Code: 3070(HKD counter) and 9070 (USD counter) (ASub-Fundof Ping An of China Trust as an umbrella unittrust under Hong Kong Law) Annual Report For the year ended 31 December2025 PING AN OF CHINA CSI HK DIVIDEND ETF(ASUB-FUNDOF PING AN OF CHINA TRUST)CONTENTS MANAGEMENT AND ADMINISTRATION………………………………………………….1-2REPORT OF THE MANAGER TO THE UNITHOLDERS…………………………………...3-4REPORT OF THE TRUSTEE TO THE UNITHOLDERS……………………………………..5STATEMENT OF RESPONSIBILITIES OF THE MANAGER AND THE TRUSTEE………6INDEPENDENT AUDITOR’S REPORT………………………………………………………7-11AUDITED FINANCIAL STATEMENTSStatement of financial position……………………………………………………………...12Statement of profit or loss and other comprehensive income……………………………….13Statement of changes in net assets attributable to unitholders………………………………14Statement of cashflows……………………………………………………………………...15Notes to the financial statements…………………………………………………………….16-40INVESTMENT PORTFOLIO (unaudited)……………………………………………………...41-42MOVEMENTS IN INVESTMENT PORTFOLIO (unaudited)………………………………...43PERFORMANCE RECORD (unaudited)……………………………………………………....44 IMPORTANT:This report is available in English only.Anyopinionexpressed hereinreflects theManager’sviewonly andare subject to change. For moreinformation about theSub-Fund, pleaserefer to the prospectus of theSub-Fundwhichisavailable at ourwebsite:https://asset.pingan.com.hkInvestors should not rely on the information contained in this report for their investment decisions. PING AN OF CHINA CSI HK DIVIDEND ETF (ASUB-FUNDOF PING AN OF CHINA TRUST) MANAGEMENT AND ADMINISTRATION ManagerPing An of China Asset Management (Hong Kong) Company LimitedSuite 230123rdFloorTwo International Finance Centre8 Finance street, CentralHong Kong Directors of the ManagerTungHoiWang XinyiTsui Siu Kay Gordon Trustee, Custodian and RegistrarHSBC Institutional Trust Services (Asia) Limited1 Queen’s Road CentralHong Kong Listing AgentAltus Capital Limited21 Wing Wo StreetCentralHong Kong Conversion AgentHK Conversion Agency Services Limited1st Floor, One & Two Exchange Square8 Connaught Place, CentralHong Kong Legal Adviser to the ManagerSimmons & Simmons30th Floor, One Taikoo Place979 King’s RoadHong Kong (ASUB-FUNDOF PING AN OF CHINA TRUST) MANAGEMENT AND ADMINISTRATION (continued) Auditor(with effect from31 October 2025) Ernst & Young27/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong PricewaterhouseCoopers(retired on 31 October 2025)Certified Public AccountantsRegistered Public Interest Entity Auditor22nd Floor, Prince’s BuildingHong Kong Participating DealersPlease refer to the Manager’s website for the latest list of Participating Dealers for details.https://asset.pingan.com.hk PING AN OF CHINA CSI HK DIVIDEND ETF (ASUB-FUNDOF PING AN OF CHINA TRUST) REPORT OF THE MANAGER TO THE UNITHOLDERS Introduction Ping An of China CSI HK Dividend ETF (the“HK Dividend ETF”), is a sub-fund of the Ping An of ChinaTrust (the“Trust”),commenced tradingon theStock Exchange of Hong Kong Limited(the “SEHK”)underthe stock code 3070(HKD counter) on 15 February 2012 and under the stock code 9070 (USD counter)on 16September2024. The HK Dividend ETF is a Hong Kong unit trust authorized pursuant to section 104 of theSecurities and Futures Ordinance (Cap. 571 of the laws of the Hong Kong SAR). It is an index-tracking fund,which seeks to track the performance of the CSI Hong KongDividend Index (the“HK Dividend Index”). In order to achieve the investment objective, the HK Dividend ETF intends to primarily adopt a replicationstrategy to track the performance of the HK Dividend Index. The HK Dividend ETF directly investsinsubstantially all of the constituent Securities of the HK Dividend Index (“Index Shares”) in substantially thesame weightings (i.e. proportions) as these Index Shares have in the HK Dividend Index. Performance of the HK Dividend ETF The HK Dividend ETF aims to generate an investment return before fees that closely correspond to theperformance of the HK Dividend Index denominated in Hong Kong dollar (“HK$”) by primarily adopting areplication strategy. As at 31 December2025, thenet asset value(“NAV”)per unit of the HK Dividend ETFwas HK$37.92and the total outstanding units were159,280,000. The total size of the HK Dividend ETF wasapproximately HK$6,040.544 million. A summary of the performance of the HK Dividend ETF is given below: Notes:#Inception date is 10 February 2012, with an initial issue price of HK$19.1482 per unit. (ASUB-FUNDOF PING AN OF CHINA TRUST) REPORT OF THE MANAGER TO THE UNITHOLDERS (continued) Dividend Distribution History of the HK Dividend ETF Activities of the HK Dividend Index Review of the HK Dividend Index was conducted on the 2nd Friday of December each year. As at 31December2025, the HK Dividend ETF comprised of all 30 constituent stocks in the index. Notes: 1.Past performance figures shown are not indicative of the future performance of the HK Dividend ETF.2.An investor cannot invest directly in the HK Dividen